When Joe Lacob and Peter Gruber paid $450 million for the Golden State Warriors back in 2010, many thought they overpaid substantially for one of the NBA’s more downtrodden franchises.
The Warriors, after all, had just two winning seasons in the past 16 years up until that point, and while they’ve managed to retain one of the more passionate fan bases in the league, the location of the team in Oakland didn’t seem to be all that appealing to those observing from the outside.
It’s amazing how quickly perceptions can change. And with new Kings owner Vivek Ranadive forced to sell his minority share in the Warriors, the franchise’s valuation has nearly doubled in just three short years.
Less than three years after the two agreed to pay the highest price ever for an NBA franchise, the team is now valued at $800 million, according to a source with knowledge of the terms.
The new valuation comes from the price Silicon Valley venture capitalist Mark Stevens agreed to pay for a share of the team that was made available when former partner Vivek Ranadive had to sell it to buy the Sacramento Kings in May.
In a way, Ranadive’s agreement to pay about $550 million for 72 percent of the Kings and their existing arena helped his old partners sell their stake for even more. The $800 million number is still surprising, given that Forbes magazine valued the Warriors in January at $555 million. Warriors spokesman Raymond Ridder declined to comment on the new valuation or the percentage that Stevens bought.
Franchise valuations are a tricky thing, because all you can do is estimate what the price tag might be, based on what other franchises have sold for in recent transactions.
What can never be truly accounted for, however. is what someone might be willing to pay for even a share in an NBA franchise under the right set of circumstances. In the case of the Warriors, they’ve quite suddenly become one of the more attractive teams to buy into, and their current value is now reflective of that.
Do Shaquille O’Neal and Kobe Bryant hang out these days? Probably not.
But do the to respect each other? The answer, apparently, is yes.
During an interview for Oprah Winfrey’s OWN network, O’Neal said he knows that Kobe respects him because of a certain play. That play?
Prepare yourself for this one Portland Trail Blazers fans: it’s the famous alley-oop with 41 seconds left from Game 7 of the 2000 Western Conference Finals that put the Lakers up by six points.
That play was the exclamation point on an impressive fourth quarter, one in which the Blazers went hilariously ice cold from the field while the Lakers made up a huge deficit.
Here’s how Shaq tells the story:
Game 7. We’re down. I’m telling Kobe ‘Hey man, I’m open’.
[And Kobe responded with] I got you.
He crosses up Scottie Pippen, and he catches eye contact with me like, ‘OK this is the one you wanted.’
He throws it up super, super, super high. I have to go up and get it and throw it down. Puts us up by five [it was six] and I know we’re going to win, we’re going to the Finals.
If you go back to the footage after we win [the game] who jumps in my arms? Kobe Bryant.
Meanwhile, a 12-year-old Dane Carbaugh’s heart still aches from that game.
Carmelo Anthony is now a member of the Oklahoma City thunder.
Man that is still really weird to type.
But this has been an insane offseason, and nevertheless the former New York Knicks forward is now a teammate of Russell Westbrook and Paul George.
We are not sure how these teammates are going to play together next season given their propensity for high-usage play, but we are definitely all ready to watch it very soon.
Meanwhile, Anthony was greeted by fans in Oklahoma at the airport after arriving to be with the team.
Do you think this will get Carmelo to stay in OKC?
Guess we will just have to find out.
Dwyane Wade and the Chicago Bulls reached a buyout agreement — he will take an $8 million haircut to become a free agent. Not that we should feel bad for Wade, I wish someone would pay me $15 million to go away.
The next question: Where will Wade play this season?
The smart money is on Cleveland, but it’s not that simple. Adrian Wojnarowski of ESPN got the ball rolling, but others chimed in.
OKC is an interesting option on the court, if their ownership group is willing to eat a little more tax to make it happen (the Thunder would pay about $24 million, based on their current payroll). Alex Kennedy of Hoopshype shed a little more light on that and other options.
It’s probably going to be the Cavaliers — his good friend LeBron James is there, they are the best team in the East so a trip to the Finals (and a shot at a ring) are very possible, and he could start for them. That’s probably enough to get the deal done.
Expect Wade to take a little time with this decision. Veterans are not big fans of training camps, he may be willing to miss a little, spend some time with the family, listen to pitches, then choose
Cleveland where he wants to play this season.
CHICAGO (AP) A person with knowledge of the situation says the Chicago Bulls and forward Nikola Mirotic have agreed to a two-year contract that could pay as much as $27 million.
The person spoke to The Associated Press on the condition of anonymity Sunday because the deal has not been announced. The Bulls hold an option on the second year.
The 6-foot-10 Mirotic averaged 10.6 points last season. He has scored 10.8 per game over three seasons.
The Bulls are rebuilding after winning 41 games and losing in the first round of the playoffs. They traded All-Star guard Jimmy Butler to Minnesota on draft night for three players 23 and younger – Zach LaVine, Kris Dunn and the rights to No. 7 overall pick Lauri Markkanen.
Yahoo Sports first reported the agreement.
More AP NBA: http://www.apnews.com/tag/NBAbasketball